Stephen Beer, Blog, Stephen Beer

Stephen Beer (www.stephenbeer.com)

Tuesday, January 26, 2010

Obama bank reforms and the UK

When President Obama announced a new set of bank reforms last week he changed the agenda for politicians and bankers alike. Obama announced a separation of banking activities and a limit to prevent banks becoming too large. In the UK, the government said it would not adopt the reforms here. Yet the financial crisis has forced governments to think the unthinkable and take the sort of action they previously opposed. Banking separation falls into that category. Labour needs to stay ahead of the reform agenda.